Corpus Christi, TX

Rent vs buy in Corpus Christi

Median home $195,400. A 1 bedrooms rents for $1,066 a month. Ownership is modelled at 20% down, 6.5% APR, property tax and upkeep.

Rent · 1 bedrooms: $1,066; per month
Own the median home: $1,426; P&I, tax, insurance, upkeep
Owning costs extra: $360; per month, same metro

What a purchase actually costs

20% down payment$39,080
Mortgage at 6.5%$988
Property tax (1.59% of value)$259/mo · $3,107/yr
Insurance and upkeep (1.1%/yr)$179
Total monthly ownership$1,426

Months of leftover to save the down payment

At $2,517 left over a month, it takes about 16 months (1.3 years) to save $39,080 if every leftover dollar goes to the down payment — which it won't.

Rent is asking rent for a new lease. Home value is the Census ACS median. The mortgage is a 30-year fixed at 6.5% with 20% down — a yardstick, not a quote. Not housing or lending advice.